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Aeris Resources (ASX:AIS) - Executive Chairman, André Labuschagne
Executive Chairman, André Labuschagne
Source: 121 Mining Investment Events
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  • Aeris Resources (AIS) receives results from a further 30 reverse circulation (RC) holes at the Constellation Deposit in New South Wales
  • The company has now received results from 52 RC holes with drilling designed to test the extents of the shallow oxide and copper mineralisation
  • Overall, the new holes returned up to 8.64 per cent copper, 1.77g/t gold and 12.6g/t silver
  • Approval has been received for an additional 45 RC holes to be drilled to begin an infill resource definition drill program
  • Aeris is up a healthy 13.9 per cent on the market with shares trading at 20.5 cents at 10:36 am AEST

Aeris Resources (AIS) has received results from a further 30 reverse circulation (RC) holes at the Constellation Deposit.

Constellation is part of Aeris’ Tritton tenement package which lies near the town of Nyngan in central New South Wales.

Aeris has now received results from 52 RC holes with drilling designed to test the extents of the shallow oxide and copper mineralisation.

To date, drilling has identified an extensive near surface oxide and supergene copper horizon that remains open to the south and west.

Around 18 of the holes intersected water and were stopped and diamond drilling is now underway to extend each hole.

Best new results include 13 metres at 8.64 per cent copper, 0.81 grams of gold per tonne (g/t) and 4.4g/t silver from 52 metres, 13 metres at 4.11 per cent copper, 1.77g/t gold and 7.9g/t silver from 101 metres; and nine metres at 8.2 per cent copper, 1.53g/t gold and 12.6g/t silver.

Executive Chairman Andre Labuschagne said the drilling program was a success and was excited about the results.

“The RC drill program has been a tremendous success. To say that the near surface drilling results at Constellation have surprised on the upside would be an understatement,” Mr Labuschagne said.

“A number of the RC drill holes encountered excessive water and had to be discontinued whilst still in visible mineralisation. RC drilling has been suspended whilst we complete these holes with a diamond tail.”

“Near surface, high grade copper mineralisation has now been traced 200 metres along strike and remains open to the south and west.”

Drilling is continuing at Constellation with three drill rigs currently operating.

Approval has also been received for an additional 45 RC holes to be drilled to begin an infill resource definition drill program.

Aeris was up a healthy 13.9 per cent on the market with shares trading at 20.5 cents at 10:36 am AEST.

AIS by the numbers
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